Bessemer Group Inc. Sells 751,125 Shares of Okta, Inc. (NASDAQ:OKTA)

Bessemer Group Inc. cut its stake in Okta, Inc. (NASDAQ:OKTA - Free Report) by 84.0% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 142,645 shares of the company's stock after selling 751,125 shares during the quarter. Bessemer Group Inc. owned about 0.08% of Okta worth $11,240,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the stock. Bank of Jackson Hole Trust bought a new stake in shares of Okta during the fourth quarter valued at about $25,000. TD Private Client Wealth LLC increased its holdings in Okta by 3,507.7% during the 4th quarter. TD Private Client Wealth LLC now owns 469 shares of the company's stock worth $37,000 after acquiring an additional 456 shares during the period. Brown Brothers Harriman & Co. bought a new stake in Okta during the 4th quarter worth approximately $43,000. Wingate Wealth Advisors Inc. bought a new position in Okta in the 4th quarter valued at $44,000. Finally, Modus Advisors LLC purchased a new position in shares of Okta during the 4th quarter valued at $44,000. Hedge funds and other institutional investors own 86.64% of the company's stock.

Analyst Ratings Changes

Several analysts have weighed in on the company. Morgan Stanley set a $125.00 price target on Okta in a report on Tuesday, March 18th. Needham & Company LLC reissued a "buy" rating and issued a $115.00 price target on shares of Okta in a research note on Tuesday, March 4th. Canaccord Genuity Group raised their price objective on shares of Okta from $94.00 to $100.00 and gave the company a "hold" rating in a research report on Tuesday, March 4th. DA Davidson upgraded shares of Okta from a "neutral" rating to a "buy" rating and upped their target price for the stock from $90.00 to $125.00 in a research report on Tuesday, March 4th. Finally, Truist Financial raised their price target on Okta from $92.00 to $100.00 and gave the company a "hold" rating in a research report on Tuesday, March 4th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Okta has a consensus rating of "Moderate Buy" and an average target price of $116.09.

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Okta Stock Down 0.7 %

OKTA stock traded down $0.67 on Tuesday, reaching $100.21. 2,318,855 shares of the company traded hands, compared to its average volume of 2,535,501. The firm has a fifty day simple moving average of $102.22 and a 200-day simple moving average of $88.03. The company has a market cap of $17.40 billion, a P/E ratio of -286.31, a price-to-earnings-growth ratio of 6.42 and a beta of 1.07. Okta, Inc. has a one year low of $70.56 and a one year high of $118.07. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.34 and a quick ratio of 1.34.

Insider Transactions at Okta

In other news, CFO Brett Tighe sold 5,000 shares of the firm's stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $89.00, for a total transaction of $445,000.00. Following the sale, the chief financial officer now owns 112,533 shares of the company's stock, valued at $10,015,437. This trade represents a 4.25 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Jacques Frederic Kerrest sold 390,000 shares of Okta stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $87.09, for a total transaction of $33,965,100.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 761,197 shares of company stock worth $70,662,533. Corporate insiders own 7.00% of the company's stock.

Okta Profile

Okta, Inc operates as an identity partner in the United States and internationally. The company offers Okta's suite of products and services used to manage and secure identities, such as Single Sign-On that enables users to access applications in the cloud or on-premises from various devices; Adaptive Multi-Factor Authentication provides a layer of security for cloud, mobile, web applications, and data; API Access Management enables organizations to secure APIs; Access Gateway enables organizations to extend Workforce Identity Cloud; and Okta Device Access enables end users to securely log in to devices with Okta credentials.